DONG Energy has decided to build the offshore wind farms Gode Wind 1 and 2 in
the German part of the North Sea. The construction will represent a total
investment of approximately EUR 2.2 billion [DKK 16.4 billion].
Gode Wind 1 (330 MW) and 2 (252 MW) will consist of 97 turbines from Siemens
Wind Power, each of 6.0 MW/154m rotor, with a total capacity of 582 MW. The
wind farms will be able to supply CO2-free power corresponding to the annual
electricity consumption of approximately 600,000 German households. DONG Energy
has already secured unconditional grid connection confirmation from the TSO,
TenneT, for Gode Wind 1 and 2.
“The investment in the 582 MW Gode Wind projects will be our biggest ever and
will cement our leadership position in offshore wind. Being constructed in an
area with good wind and soil conditions, relatively close to shore and in a
cluster where we can harvest synergies from other offshore wind projects, the
Gode Wind projects provide a sound business case for DONG Energy,” said
Executive Vice President Samuel Leupold, who is responsible for DONG Energy’s
wind power activities.
DONG Energy will receive a fixed price per kWh of electricity produced for the
first ten years of operation, following which DONG Energy will receive the
market price. The Gode Wind projects will be constructed within the support
regime of the German Stauchungsmodell, which is designed to support offshore
wind projects built before the end of 2017.
“We remain hopeful that the new German government will soon announce a viable
support framework for the period post-2017. For an industry with project
lifecycles of 30 years it is critically important to obtain visibility beyond
2017 in order to continue to innovate and mature the technology, bring down
production costs, and make a substantial contribution to the German
Energiewende. Longer-term visibility is also a prerequisite for our ability to
continue to attract significant private capital from pension funds and asset
managers who are ready to invest in the modernisation of the German energy
system," said Samuel Leupold.
Gode Wind 1 and 2 are located approximately 45 km off the German coast in the
North Sea. They will be built in immediate continuation of the Borkum Riffgrund
1 project, which DONG Energy is currently constructing. On completion of Gode
Wind 1 and 2, DONG Energy will have built a total of approximately 3.5 GW of
offshore wind. DONG Energy has a target to build a total of 6.5 GW by 2020.
Offshore construction of the Gode Wind offshore wind farms will begin in the
first half of 2015 and the wind farms are expected to be fully commissioned in
the second half of 2016.
The Gode Wind projects increase the robustness and balance in DONG Energy’s
portfolio of offshore wind farm projects across geographies and regulatory
The information provided in this announcement does not change DONG Energy's
previous financial guidance for the 2013 financial year or the announced
expected investment level for 2013-2014.
For additional information, please contact:
Rune Birk Nielsen
+45 9955 6543
Allan Bødskov Andersen
+45 9955 9769
DONG Energy is one of the leading energy groups in Northern Europe. Our
business is based on procuring, producing, distributing and trading in energy
and related products in Northern Europe. DONG Energy has nearly 6,500 employees
and is headquartered in Denmark. The Group generated DKK 67 billion (EUR 9.0
billion) in revenue in 2012. For further information, see www.dongenergy.com
DONG Energy to build Gode Wind 1 and 2 offshore wind farms in Germany.pdf
DONG Energy is one of the leading energy groups in Northern Europe. Our business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe.